Brazilian Orange-Juice Maker, Investment Firm Team Up to Buy Banana Company

Chiquita Brands International Inc. agreed to be acquired for $742 million by a Brazilian orange-juice maker and its investment-firm partner after the banana company’s shareholders voted down a competing deal on Friday.

The offer from Cutrale-Safra—its third bid for Chiquita since August—values the company at $14.50 a share. Shares of Chiquita...